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Norway Oil and Gas Report Q3 2015

BMI View: New field developments and improved recovery will stabilise oil production over 2015 and2016. Weaker oil prices will curtail investment, though the long-term impact will be masked by the vastJohan Sverdrup project starting in 2019. Gas production will also remain flat, fluctuating with Europeandemand.

The main trends and developments we highlight in Norway's oil and gas sector are:

The USD842mn topside contract for the Johan Sverdrup project was awarded to Kvaerner and KBR inJune. The Sverdrup development is awaiting parliamentary approval of the field development plan. Firstoil is forecast for 2019.


BMI Industry View
Table: Headline Forecasts (Norway 2013-2019)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Table: Proven Oil and Gas Reserves (Norway 2013-2018)
Table: Proven Oil and Gas Reserves (Norway 2019-2024)
Table: Norway Drilling Results 2015
Upstream Projects
Table: Key Upstream Projects In Norway
Upstream Production - Oil
Table: Oil Production (Norway 2013-2018)
Table: Oil Production (Norway 2019-2024)
Upstream Production - Gas
Table: Gas Production (Norway 2013-2018)
Table: Gas Production (Norway 2019-2024)
Refining
Table: Refining Capacity and Refined Products Production (Norway 2013-2018)
Table: Refining Capacity and Refined Products Production (Norway 2019-2024)
Refined Fuels Consumption
Table: Refined Products Consumption* (Norway 2013-2018)
Table: Refined Products Consumption* (Norway 2019-2024)
Gas Consumption
Table: Gas Consumption (Norway 2013-2018)
Table: Gas Consumption (Norway 2019-2024)
Trade - Oil
Table: Crude Oil Net Exports (Norway 2013-2018)
Table: Crude Oil Net Exports (Norway 2019-2024)
Table: Refined Fuels Net Exports (Norway 2013-2018)
Table: Refined Fuels Net Exports (Norway 2019-2024)
Table: Total Net Oil Exports - Crude and Products (Norway 2013-2018)
Table: Total Net Oil Exports - Crude and Products (Norway 2019-2024)
Trade - Gas (Pipeline And LNG)
Table: Gas Net Exports (Norway 2013-2018)
Table: Gas Net Exports (Norway 2019-2024)
Industry Risk Reward Ratings
North America And Western Europe Oil & Gas Risk/Reward Index
Table: North America & Western Europe Oil & Gas Risk/Reward Index
US More Resilient Than Canada To Oil Price Fall
Table: Oil & Gas Upstream Risk/Reward Index
Western Europe Languishes Without Shale Outlook
Downstream: US Comes Out Top
Table: Oil & Gas Downstream Risk/Reward Index
Norway - Risk/Reward Index
Upstream Index - Overview
Upstream Index - Rewards
Upstream Index - Risks
Downstream Index - Overview
Market Overview
Norway Energy Market Overview
Political Regime
Fiscal Regime
Table: Norway - Offshore Tax Regime Overview
Licensing Regime And Rounds
International Energy Relations
Oil And Gas Infrastructure
Oil Refineries
Table: Refineries In Norway
Service Stations
Oil Terminals
Oil Pipelines
Table: Norway - Major Oil Pipelines
Table: LNG Terminals In Norway
Table: Gas Pipelines Operated By Gassled
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Norwegian Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Company Profile
Statoil
ExxonMobil
Total E&P Norge
Norske Shell
ConocoPhilips
Other Summaries
Regional Overview
North America And Western Europe Oil & Gas Regional Overview
Global Industry Overview
Oil Price Outlook
Table: BMI And Bloomberg Consensus Forecasts* WTI And Brent, Front Month - USD/bbl
Table: 2015-2016 - Fundamental Pressure On Oil Prices
Appendix
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
Table: Energy Price Forecasts, 2013-2018
Table: Energy Price Forecasts, 2019-2024 ( Global 2019-2024)
Developed Europe - Regional Appendix
Table: Oil Consumption - Historical Data And Forecasts, 2012-2019 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2016-2024 ('000b/d)
Table: Oil Production - Historical Data And Forecasts, 2012-2019 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2016-2024 ('000b/d)
Table: Refinery Capacity - Historical Data And Forecasts, 2012-2019 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2016-2024 ('000b/d)
Table: Gas Consumption - Historical Data And Forecasts, 2012-2019 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2016-2024 (bcm)
Table: Gas Production - Historical Data And Forecasts, 2012-2019 (bcm)
Table: Gas Production - Long-Term Forecasts, 2016-2024 (bcm)
Table: LNG Gas Imports (Exports) - Historical Data And Forecasts, 2012-2019 (bcm)
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2016-2024 (bcm)
Norway - Total Hydrocarbons, 10-Year Forecasts
Table: Total Hydrocarbons Production, Consumption and Net Exports (Norway 2013-2018)
Table: Total Hydrocarbons Production, Consumption and Net Exports (Norway 2019-2024)
Norway - Refined Products Breakdown, 10-Year Forecasts
Table: Refined Petroleum Products, Production Breakdown (Norway 2013-2018)
Table: Refined Petroleum Products, Production Breakdown (Norway 2019-2024)
Table: Refined Petroleum Products, Consumption Breakdown (Norway 2013-2018)
Table: Refined Petroleum Products, Consumption Breakdown (Norway 2019-2024)
Table: Refined Petroleum Products, Net Exports Breakdown (Norway 2013-2018)
Table: Refined Petroleum Products, Net Exports Breakdown (Norway 2019-2024)
Table: LPG Production, Consumption and Net Exports (Norway 2013-2018)
Table: LPG Production, Consumption and Net Exports (Norway 2019-2024)
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Source
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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